Australia's Culpeo Minerals jumps on deal to buy stake in Chile copper project

Culpeo Minerals

21/03/2022 04:38

** Shares of copper explorer Culpeo Minerals  CPO.AX  surge
as much as 9.5% to A$0.115 - set for best session since March 4,
if gains hold 
    ** Co says it has entered an agreement for right to acquire
an 80% interest in the Lana Corina Copper Project in the coastal
Coquimbo region of Chile, from SCM Antares  urn:newsml:reuters.com:*:nASXJKr5c 
    ** Culpeo to pay nearly $3 mln in cash, in stages, along
with expenditure on the project, to move towards 80% ownership
over five years 
    ** CPO stock has fallen 36.4% YTD, as of last close 

 (Reporting by Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))